page_title: Nationalisation in Pakistan
section_title: Nationalization phase (1988–present)
hierarchical_section_title: Nationalisation in Pakistan / Nationalization phase (1988–present)
caption_attribution_description: SHARM EL SHEIKH/EGYPT, 19MAY08 - Syed Yousaf Raza Gillani, Prime Minister of Pakistan, captured during the session &quot;Eye on Pakistan&quot; at the World Economic Forum on the Middle East 2008 held in Sharm El Sheikh, Egypt.
context_page_description: The Nationalisation process in Pakistan was a policy measure programme in the economic history of Pakistan, first introduced, promulgated and implemented by Prime Minister Zulfikar Ali Bhutto and the Pakistan Peoples Party to lay the foundation of socialist economics reforms to improve the growth of national economy of Pakistan. Since the 1950s, the country had undergone a speedy industrialisation and became an industrial paradise in Asia. But, as time progressed, the labour trade unions and labour-working class had increasingly strained relations with the industrial business oligarch class, having neglected to improve working conditions and failing to provide a healthy and safe environment for the workers in these industrial industries.
  The nationalisation programme began on 2 January 1972, with a vision to promote economic democracy, liberalisation, and an initial mainstream goal to put Pakistan in line with state progressivism.
context_section_description: In November 1988, Benazir Bhutto and the Pakistan Peoples Party came to power for a second time. During the election campaign in 1988, Benazir Bhutto promised to the industrial sector to end nationalisation programme and to carry out the industrialisation by means other than state intervention.
  But controversially, Benazir Bhutto did not authorise the directives to carry out the denationalisation programme or liberalisation of the national economy. No nationalised units were privatised, only few economic regulations were reviewed. Although limited-scale privatisation continued under Benazir Bhutto's second government, the UBL Pakistan and railway consortium was completely nationalised by Benazir Bhutto before being dismissed in 1996. During the second government, the Peoples Party intensified the government control on Pakistan Railways and Pakistan Steel Mills; all shares were kept under government management ownership. In 1998, Prime minister Nawaz Sharif ) imposed economic emergency after performing nuclear deterrence in a direct response to India. All state-owned corporations and private sector industries' assets were frozen by Nawaz Sharif after ordering to freeze the private assets under government control to prevent the financial collapse. The foundation of nuclear program was laid by [(Zulfiqar Ali Bhutto)] in Pakistan
  From 1999 to 2010, the nationalisation programme was swiftly ended and effectively came to its end until 2011. The nationalisation programme was again promulgated by Prime Minister Yousaf Raza Gillani on 15 December 2011, in order secure and rescue the former state-owned enterprises. The nationalisation programme was put forward to enhance the government ownership of Pakistan Steel Mills, Pakistan Railways as well as Pakistan International Airlines. The current nationalisation programme remains intact to restructured and made profitable while remaining within government ownership.
caption: Yousaf Raza Gillani
exif: {"Image Make": "NIKON CORPORATION", "Image Model": "NIKON D200", "Image Orientation": "Horizontal (normal)", "Image XResolution": "300", "Image YResolution": "300", "Image ResolutionUnit": "Pixels/Inch", "Image Software": "GIMP 2.4.7", "Image DateTime": "2011:11:17 21:33:47", "Image YCbCrPositioning": "Co-sited", "Image ExifOffset": "224", "GPS GPSVersionID": "[2, 2, 0, 0]", "Image GPSInfo": "834", "Thumbnail Compression": "JPEG (old-style)", "Thumbnail XResolution": "72", "Thumbnail YResolution": "72", "Thumbnail ResolutionUnit": "Pixels/Inch", "EXIF ExposureTime": "1/125", "EXIF FNumber": "7/2", "EXIF ExposureProgram": "Manual", "EXIF ISOSpeedRatings": "640", "EXIF ExifVersion": "0221", "EXIF DateTimeOriginal": "2008:05:19 16:16:02", "EXIF DateTimeDigitized": "2008:05:19 16:16:02", "EXIF ComponentsConfiguration": "YCbCr", "EXIF CompressedBitsPerPixel": "4", "EXIF ExposureBiasValue": "0", "EXIF MaxApertureValue": "3", "EXIF MeteringMode": "Pattern", "EXIF LightSource": "Unknown", "EXIF Flash": "Strobe return light not detected", "EXIF FocalLength": "86", "EXIF SubSecTime": "73", "EXIF SubSecTimeOriginal": "73", "EXIF SubSecTimeDigitized": "73", "EXIF FlashPixVersion": "0100", "EXIF ColorSpace": "sRGB", "EXIF ExifImageWidth": "748", "EXIF ExifImageLength": "784", "EXIF SensingMethod": "One-chip color area", "EXIF FileSource": "Digital Camera", "EXIF SceneType": "Directly Photographed", "EXIF CVAPattern": "[0, 2, 0, 2, 1, 0, 2, 1]", "EXIF CustomRendered": "Normal", "EXIF ExposureMode": "Manual Exposure", "EXIF WhiteBalance": "Auto", "EXIF DigitalZoomRatio": "1", "EXIF FocalLengthIn35mmFilm": "129", "EXIF SceneCaptureType": "Standard", "EXIF GainControl": "Low gain up", "EXIF Contrast": "Normal", "EXIF Saturation": "Normal", "EXIF Sharpness": "Normal", "EXIF SubjectDistanceRange": "0"}